Two new political finance and funding bills signed

By Jonathan Paoli

President Cyril Ramaphosa has signed into law two pieces of legislation – the Second Adjustments Appropriation Bill and the Electoral Matters Amendment Bill – both that will have a profound effect on the finances of political parties.

Describing the legislation as being ‘tangible’ examples that provide material support for a democratic culture, the bills will expand the financial resources available to independent candidates and representatives, amongst others.

“The Second Adjustments Appropriation bill provides for a net movement of R290 million across functions and economic classifications in line with the requirements of the state.

“Furthermore, the Bill provides additional financial support to a number of departments and institutions, including R200 million to the Department of Home Affairs for the purpose of transferring the money to the Independent Electoral Commission for the Represented Political Parties Fund,” the Presidency said.

The resources in the fund are to be provided annually